If you use the CMake template, it's recommended that you open the project as "open folder" option, this way you use Visual Studio's native CMake support and it will regenerate automatically when you change the CMake script.
You can, if you want, still generate a VS solution with CMake itself and use that.
Then you just need to rerun CMake manually when you add a new file.
From my reading, the "SFML with the CMake Project Template" just creates a SLN file so I dont have to set the include, lib and bins directories, correct?
I don't quite understand your question here.
